The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Saudi Arabia’s Al Jasser welcomes foreign banks

Saudi Arabia’s central bank governor, Mohammed Al Jasser, wants long-term global banks in the Kingdom. Meanwhile he is taking a leading role in developing the GCC’s single currency, as he tells Dominic O’Neill.

Al Jasser insists global banks treated equally


Saudi Arabia’s central bank governor, Mohammed Al Jasser

"I explained to him [Mervyn Davies] very clearly that there is absolutely no basis for the claims there was unequal treatment [for foreign banks]"

Mohammed Al Jasser

MOHAMMED AL JASSER is hardly in a position to be pushed around by foreign bankers, let alone former bankers from abroad. In December last year UK trade minister Mervyn Davies met Al Jasser, the governor of the Saudi Arabian Monetary Authority (Sama). Davies had been asked to stress the frustration felt at Saudi reluctance to involve foreign banks in procedures to resolve the debt crises at the Saad and Al Gosaibi family group conglomerates, which defaulted last year, or even to discuss the matters officially.


Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to Euromoney.com and Asiamoney.com analysis and receive expertly-curated updates direct to your inbox.

 

Already a user?

Login now

 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree